XML 48 R36.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information (Details) - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Sep. 30, 2017
Sep. 30, 2016
Assets [Abstract]        
Cash and cash equivalents $ 920.3 $ 1,150.3 $ 1,007.8 $ 1,303.2
Restricted cash 53.7   16.5  
Inventories:        
Construction in progress and finished homes 4,907.8   4,606.0  
Residential land and lots - developed and under development 4,827.7   4,519.7  
Land held for development 100.5   101.0  
Land held for sale 204.2   10.4  
Total inventories 10,040.2   9,237.1  
Investment in unconsolidated entities 86.1   0.0  
Mortgage loans held for sale 538.2   587.3  
Deferred income taxes 239.1   365.0  
Property and equipment, net 357.7   325.0  
Other Assets 622.0   565.9  
Goodwill 100.0   80.0  
Total assets 12,957.3   12,184.6  
Liabilities [Abstract]        
Accounts payable 575.7   580.4  
Accrued expenses and other liabilities 1,068.1   985.0  
Notes payable 3,258.1   2,871.6  
Total liabilities 4,901.9   4,437.0  
Revenues        
Home sales 3,184.5 2,797.7    
Land/lot sales and other 67.2 28.4    
Financial services 81.0 78.1    
Total revenues 3,332.7 2,904.2    
Cost of sales        
Home sales 2,521.5 2,244.8    
Land/lot sales 54.9 20.8    
Inventory and land option charges 3.7 2.3    
Total cost of sales 2,580.1 2,267.9    
Selling, General and Administrative Expense 384.2 325.9    
Equity in earnings of unconsolidated entities (2.3) 0.0    
Interest Expense 0.0      
Other (income) expense (20.5) (7.7)    
Income before income taxes 391.2 318.1    
Depreciation and amortization 16.2 14.4    
Net cash (used in) provided by operating activities (75.0) (28.2)    
Segment Reconciling Items [Member]        
Assets [Abstract]        
Cash and cash equivalents 0.0      
Restricted cash 0.0      
Inventories:        
Construction in progress and finished homes 0.0      
Residential land and lots - developed and under development 46.7      
Land held for development 0.0      
Land held for sale 2.8      
Total inventories 49.5      
Investment in unconsolidated entities 21.0      
Mortgage loans held for sale 0.0      
Deferred income taxes 0.3      
Property and equipment, net 0.0      
Other Assets 20.4      
Goodwill 20.0      
Total assets 111.2      
Liabilities [Abstract]        
Accounts payable 0.0      
Accrued expenses and other liabilities (23.8)      
Notes payable 12.6      
Total liabilities (11.2)      
Revenues        
Home sales 0.0      
Land/lot sales and other 0.0      
Financial services 0.0      
Total revenues 0.0      
Cost of sales        
Home sales 0.0      
Land/lot sales 4.4      
Inventory and land option charges 0.0      
Total cost of sales 4.4      
Selling, General and Administrative Expense 0.1      
Equity in earnings of unconsolidated entities 5.3      
Interest Expense (2.1)      
Other (income) expense 0.0      
Income before income taxes (7.7)      
Depreciation and amortization 0.1      
Net cash (used in) provided by operating activities (8.1)      
Homebuilding [Member]        
Assets [Abstract]        
Cash and cash equivalents 558.0   973.0  
Restricted cash 8.3   9.3  
Inventories:        
Construction in progress and finished homes 4,907.8   4,606.0  
Residential land and lots - developed and under development 4,649.2   4,519.7  
Land held for development 100.5   101.0  
Land held for sale 18.2   10.4  
Total inventories 9,675.7   9,237.1  
Investment in unconsolidated entities 0.0      
Mortgage loans held for sale 0.0   0.0  
Deferred income taxes 236.3   365.0  
Property and equipment, net 204.3   194.4  
Other Assets 545.3   518.7  
Goodwill 80.0   80.0  
Total assets 11,307.9   11,377.5  
Liabilities [Abstract]        
Accounts payable 567.0   575.6  
Accrued expenses and other liabilities 997.2   933.1  
Notes payable 2,749.6   2,451.6  
Total liabilities 4,313.8   3,960.3  
Revenues        
Home sales 3,184.5 2,797.7    
Land/lot sales and other 36.4 28.4    
Financial services 0.0 0.0    
Total revenues 3,220.9 2,826.1    
Cost of sales        
Home sales 2,521.5 2,244.8    
Land/lot sales 31.2 20.8    
Inventory and land option charges 3.7 2.3    
Total cost of sales 2,556.4 2,267.9    
Selling, General and Administrative Expense 304.8 268.4    
Equity in earnings of unconsolidated entities 0.0      
Interest Expense 0.0      
Other (income) expense (14.1) (4.1)    
Income before income taxes 373.8 293.9    
Depreciation and amortization 13.1 13.3    
Net cash (used in) provided by operating activities (101.6) (98.3)    
Forestar Group [Member]        
Assets [Abstract]        
Cash and cash equivalents 321.8      
Restricted cash 40.0      
Inventories:        
Construction in progress and finished homes 0.0      
Residential land and lots - developed and under development 131.8      
Land held for development 0.0      
Land held for sale 183.2      
Total inventories 315.0      
Investment in unconsolidated entities 65.1      
Mortgage loans held for sale 0.0      
Deferred income taxes 2.5      
Property and equipment, net 2.0      
Other Assets 18.4      
Goodwill 0.0      
Total assets 764.8      
Liabilities [Abstract]        
Accounts payable 2.4      
Accrued expenses and other liabilities 45.5      
Notes payable 108.4      
Total liabilities 156.3      
Revenues        
Home sales 0.0      
Land/lot sales and other 30.8      
Financial services 0.0      
Total revenues 30.8      
Cost of sales        
Home sales 0.0      
Land/lot sales 19.3      
Inventory and land option charges 0.0      
Total cost of sales 19.3      
Selling, General and Administrative Expense 13.6      
Equity in earnings of unconsolidated entities (7.6)      
Interest Expense 2.1      
Other (income) expense (0.6)      
Income before income taxes 4.0      
Depreciation and amortization 1.2      
Net cash (used in) provided by operating activities (36.2)      
Financial Services [Member]        
Assets [Abstract]        
Cash and cash equivalents 24.5   24.1  
Restricted cash 5.4   7.2  
Inventories:        
Construction in progress and finished homes 0.0   0.0  
Residential land and lots - developed and under development 0.0   0.0  
Land held for development 0.0   0.0  
Land held for sale 0.0   0.0  
Total inventories 0.0   0.0  
Investment in unconsolidated entities 0.0      
Mortgage loans held for sale 538.2   587.3  
Deferred income taxes 0.0   0.0  
Property and equipment, net 3.1   3.0  
Other Assets 34.1   42.2  
Goodwill 0.0   0.0  
Total assets 605.3   663.8  
Liabilities [Abstract]        
Accounts payable 1.6   1.5  
Accrued expenses and other liabilities 30.9   35.6  
Notes payable 387.5   420.0  
Total liabilities 420.0   457.1  
Revenues        
Home sales 0.0 0.0    
Land/lot sales and other 0.0 0.0    
Financial services 81.0 78.1    
Total revenues 81.0 78.1    
Cost of sales        
Home sales 0.0 0.0    
Land/lot sales 0.0 0.0    
Inventory and land option charges 0.0 0.0    
Total cost of sales 0.0 0.0    
Selling, General and Administrative Expense 61.7 54.8    
Equity in earnings of unconsolidated entities 0.0      
Interest Expense 0.0      
Other (income) expense (2.9) (3.2)    
Income before income taxes 22.2 26.5    
Depreciation and amortization 0.4 0.3    
Net cash (used in) provided by operating activities 67.9 59.9    
Other Segments [Member]        
Assets [Abstract]        
Cash and cash equivalents 16.0   10.7  
Restricted cash 0.0   0.0  
Inventories:        
Construction in progress and finished homes 0.0   0.0  
Residential land and lots - developed and under development 0.0   0.0  
Land held for development 0.0   0.0  
Land held for sale 0.0   0.0  
Total inventories 0.0   0.0  
Investment in unconsolidated entities 0.0      
Mortgage loans held for sale 0.0   0.0  
Deferred income taxes 0.0   0.0  
Property and equipment, net 148.3   127.6  
Other Assets 3.8   5.0  
Goodwill 0.0   0.0  
Total assets 168.1   143.3  
Liabilities [Abstract]        
Accounts payable 4.7   3.3  
Accrued expenses and other liabilities 18.3   16.3  
Notes payable 0.0   0.0  
Total liabilities 23.0   19.6  
Revenues        
Home sales 0.0 0.0    
Land/lot sales and other 0.0 0.0    
Financial services 0.0 0.0    
Total revenues 0.0 0.0    
Cost of sales        
Home sales 0.0 0.0    
Land/lot sales 0.0 0.0    
Inventory and land option charges 0.0 0.0    
Total cost of sales 0.0 0.0    
Selling, General and Administrative Expense 4.0 2.7    
Equity in earnings of unconsolidated entities 0.0      
Interest Expense 0.0      
Other (income) expense (2.9) (0.4)    
Income before income taxes (1.1) (2.3)    
Depreciation and amortization 1.4 0.8    
Net cash (used in) provided by operating activities 3.0 10.2    
East [Member] | Homebuilding [Member]        
Inventories:        
Total inventories 1,155.6   1,068.9  
Revenues        
Total revenues 393.0 305.9    
Cost of sales        
Income before income taxes 45.0 26.3    
Midwest [Member] | Homebuilding [Member]        
Inventories:        
Total inventories 543.3   492.6  
Revenues        
Total revenues 161.4 151.1    
Cost of sales        
Income before income taxes 13.3 10.2    
Southeast [Member] | Homebuilding [Member]        
Inventories:        
Total inventories 2,470.2   2,392.3  
Revenues        
Total revenues 988.7 883.4    
Cost of sales        
Income before income taxes 122.5 99.6    
South Central [Member] | Homebuilding [Member]        
Inventories:        
Total inventories 2,281.9   2,199.4  
Revenues        
Total revenues 808.8 756.9    
Cost of sales        
Income before income taxes 101.5 96.5    
Southwest [Member] | Homebuilding [Member]        
Inventories:        
Total inventories 516.7   506.1  
Revenues        
Total revenues 156.4 108.6    
Cost of sales        
Income before income taxes 14.7 4.0    
West [Member] | Homebuilding [Member]        
Inventories:        
Total inventories 2,477.7   2,352.5  
Revenues        
Total revenues 712.6 620.2    
Cost of sales        
Income before income taxes 76.8 $ 57.3    
Corporate, Non-Segment [Member] | Homebuilding [Member]        
Inventories:        
Total inventories $ 230.3   $ 225.3